Apple (AAPL): Fifth Time the Charm?

Apple (AAPL): Fifth Time the Charm?

Monday, April 29, 2013 at 06:15PM

Shares of Apple (AAPL) had a nice rally of more than 3% today, but the stock closed just shy of its 50-day moving average (DMA).  The 50-DMA has been a hard nut to crack since AAPL first closed below it in early October.  In fact, over the 138 trading days since then, AAPL has only closed above its 50-DMA on three trading days, and there have been four prior rallies in the stock that failed just shy of or slightly below the 50-DMA.  Will the fifth time be the charm?